The company said net revenue rose 10% and 9% for the 3-month and 9-month periods ended June 30, 2024, respectively, over the prior-year comparable periods. It cited growth in nominal cross-border volume, processed transactions and nominal payments volume as the main drivers, which was partially offset by higher client incentives.

10-QQuarterly reportFiled Jul 24, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said net revenue rose 10% and 9% for the 3-month and 9-month periods ended June 30, 2024, respectively, over the prior-year comparable periods. It cited growth in nominal cross-border volume, processed transactions and nominal payments volume as the main drivers, which was partially offset by higher client incentives.
The company said GAAP operating expenses decreased 4% over the three months and increased 5% over the nine months. It cited lower litigation provision as the driver of the 3-month decline and higher personnel and general and administrative expenses as the driver of the 9-month increase.
Visa said it acquired Pismo Holdings on January 16, 2024 for a purchase consideration of $929 million. Over the 9 months, it repurchased 42 million shares of class A common stock in the open market for $11.2 billion. As of June 30, the remaining authorized funds under its share repurchase program were $18.9 billion.
The company said operating cash flow for the 9 months ended June 30, 2024 was lower than in the prior-year period. It cited higher incentive payments and higher cash paid for taxes due to the timing of payments. It said financing cash outflows were larger, due to higher share repurchases and higher dividends paid.

Key figures

Quarter ended June 30, 2024

Revenue: $8.9B
Operating income: $5.9B
Net income: $4.9B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net revenue up in June 30, 2024 quarter and 9-month period

The company said net revenue rose 10% and 9% for the 3-month and 9-month periods ended June 30, 2024, respectively, over the prior-year comparable periods. It cited growth in nominal cross-border volume, processed transactions and nominal payments volume as the main drivers, which was partially offset by higher client incentives.

Source · Based on the MD&A text of the filing

GAAP operating expenses fall 4% in quarter, rise 5% over 9 months

The company said GAAP operating expenses decreased 4% over the three months and increased 5% over the nine months. It cited lower litigation provision as the driver of the 3-month decline and higher personnel and general and administrative expenses as the driver of the 9-month increase.

Source · Based on the MD&A text of the filing

Pismo acquisition and share repurchase size

Visa said it acquired Pismo Holdings on January 16, 2024 for a purchase consideration of $929 million. Over the 9 months, it repurchased 42 million shares of class A common stock in the open market for $11.2 billion. As of June 30, the remaining authorized funds under its share repurchase program were $18.9 billion.

Source · Based on the MD&A text of the filing

Drivers of cash flow changes over 9 months

The company said operating cash flow for the 9 months ended June 30, 2024 was lower than in the prior-year period. It cited higher incentive payments and higher cash paid for taxes due to the timing of payments. It said financing cash outflows were larger, due to higher share repurchases and higher dividends paid.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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